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Olga Luz
Olga is 51 years old, and is a woman that has been beaten by life's circumstances. Passing through an economic crisis at home is an event that has marked her life and that of her spouse. As a result of this situation, Olga started a dressmaking business with the intention of alleviating this crisis that was threatening her family. "They were difficult days, I even came to think that it would be the end for us." With these words, Olga recalls the nightmare they lived through. But her perseverance and the love for her children were stronger, and the reason that she worked so hard in order to give them access to education and a better quality of life.

Olga has won over the hearts and recognition from people in her community thanks to her kindness. She has made a living in this profession for 20 years, and with her efforts has built her dressmaking shop in her home's living room, specializing in the production of underwear. Currently, she needs to buy raw materials such as cotton, fabric and threads, in order to expand her production so she can sell in various businesses around her area. She hopes that with this investment she can improve her quality of life and stabilize her economic situation.
View original language description ↓
Olga de 51 años de edad, es una mujer que ha sido golpeada por las circunstancias de la vida. Atravesar por una crisis económica en su hogar, es uno de los sucesos que han marcado su vida y la de su esposo. A raíz de esta situación esta mujer inició con el oficio de la confección con el propósito de mitigar el panorama que asechaba su familia. “Fueron días difíciles, hasta llegué a pensar que sería el fin para nosotros” con estas palabras Olga manifiesta la pesadilla que vivieron. Pero su perseverancia y el amor por sus hijos fueron más fuertes, razón por la que trabajó fuertemente con el objetivo de que sus hijos pudieran acceder a la educación y a una mejor calidad de vida.
Olga se ha ganado el corazón y el reconocimiento de las personas de su municipio gracias a su amabilidad.
Desde hace 20 años se dedica a este oficio, y con su esfuerzo a construido su taller de confección ubicado en la sala de su casa, especializándose en la elaboración de ropa interior. En la actualidad requiere de la compra de materias primas como algodón, tela e hilos, con el fin de aumentar su producción que será comercializada en varios negocios de su localidad.
Espera que con esta inversión su calidad de vida mejore y su condición económica se estabilice.

Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.

About Colombia

  • $11,100
    Average annual income
  • 561
    View loans »
    Colombia Loans Fundraising
  • $14,903,600
    Funds lent in using Kiva
  • 1,822.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $675 helped Olga Luz to buy raw materials such as cotton, fabric and threads.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 31, 2013
Listed
Mar 1, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2014